Legal expert Renee E. Coover shares three high risk areas for physicians who own or are medical directors of med spas, and how they can avoid potentially career-damaging liability outcomes. (Studio Romantic - stock.adobe.com)
While it may not sound like a lot, three more surgeries (or big-ticket procedures) per month can make a big difference for your practice. It could mean the difference between you just sliding by or barely being able to cover your fixed overhead costs. Or, even worse, you having to dip into your savings to cover your expenses for a slow month!
Satisfaction and patient experience are the lifeblood of your practice, and they determine revenue growth. It is important that your team understands just how fundamental they are in the process of acquiring new business and building long-term relationships with your current patients.
The Aesthetic Academy is headed to Dallas for the first time. Join us November 8-9, 2019, at the Omni Dallas Hotel for two days of advanced hands-on procedural training and comprehensive development in the field of medical aesthetics. Attend The Aesthetic Academy and certify your practice to the highest standards of medical excellence.
Promoting skincare in your cosmetic practice includes many benefits to you and your patients, including serving as a new revenue stream that could account for 10% to 25% of your total revenues and convenience for your patients. Additionally, skincare is a gateway for introducing and cross-promoting your in-office aesthetic procedures and treatments because when they are used together, outcomes are enhanced.
In your practice, just as in life, you’ll see and experience an incredible amount of personalities – some easier to deal with than others. Part of running a successful practice is knowing how to work with every personality type you encounter.
Prejuvenation, as a term and a trend, has been a growing movement within aesthetic medicine over the last few years, with millennials leading the charge. Unlike prior generations, millennial patients seek to prevent signs of aging proactively, and they know what they want before they even walk in the door.
In 2019, it seems that people have subscriptions to everything. When they shop, they go to Costco or use their Amazon Prime membership. When they eat, they prepare a meal kit that was shipped to them by a Blue Apron or HelloFresh. When they want entertainment, they watch movies or television from Netflix or Hulu.
The idea of opening a medical and wellness spa was first set in motion as we started to feel the effects of aging. We knew there were others who were experiencing these same feelings so we envisioned a business would that would affordably help people stay healthy and serve as a solution to problems they couldn’t solve on their own.
Even established, successful practices can have a hard time introducing and selling new products in today’s information-saturated world. Consumers are bombarded with services, discounts, offers and promotions for things they may or may not need everywhere they look. So, how do you get through to them? What will make them choose your product or service over the rest? What if you tried giving it away for free?
When it comes to the challenges of running a medical practice, most physicians will agree that price shoppers are among the most frustrating. With these types of consumers, it is as though training and expertise account for nothing. Like all that really matters is, “how much is this going to cost me?!” However, physicians also need to realize that just because someone asks about price, it doesn’t necessarily make them a “price shopper.”
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